• NFTs: Can They Be Intelligent?

  • Alethea AI, which is backed by Mark Cuban, is expanding further into the burgeoning crypto asset market with its most recent product offering.

    Victor Frankenstein, Cleopatra, and Nikola Tesla are three of many familiar faces featured as intelligent non-fungible tokens (iNFTs) that Alethea AI users can interact with on its newly launched network, which founder Arif Khan describes as “the world’s most intelligent metaverse.”

    With its most recent product offering, Mark Cuban-backed Alethea AI, a startup that first allowed users to embed artificial intelligence, animation, and voice capabilities into NFTs, is expanding further into the crypto asset’s vast market.

    “Creators and NFT holders can embed AI into their NFTs, giving their NFTs an intelligent, interactive, human-like personality,” Khan explained of iNFTs to ULTCOIN365. “We’re essentially capable of bringing this JPEG image to life, giving it personality and intelligence.”

    Users can now chat with their iNFTs, send video messages of their iNFTs to other users, and have their crypto assets compete against one another in games, which were launched on October 7.

    The term was coined by Khan, who described iNFTs as “perfect metaverse Legos” capable of “building an intelligent database and an intelligent decentralized metaverse.”

    Alethea AI’s Noah’s Ark metaverse hub allows iNFTs to compete against one another in adversarial or cooperative competitions. “Through an innovative concept known as Intelligence Mining, all competitions will strengthen the intelligence embedded in each NFT and, as a result, the network.” “The more users train and battle their iNFTs, the smarter the network becomes, and the more rewards accrue to the users for providing this training data,” according to a company release.

    Within Noah’s Ark, Khan sees the potential for iNFTs to generate cash for their holders through what the startup refers to as the “train-to-earn” model. Khan stated that because the assets are AI-enabled, “[iNFTs] will earn revenue for their owners and users as they offer unique services on Noah’s Ark.”

    iNFTs aren’t just for historical figures and fictional characters. Certain high-profile NFT projects, such as the Bored Ape Yacht Club, CryptoPunks, and Pudgy Penguins, can be AI-enabled and used in the platform to interact and converse. (Alethea tweeted that a collection of iNFTs will be available on October 14 via the NFT marketplace OpenSea.)

    “The NFT serves as the property rights layer, and the AI component brings the NFT to life,” Khan explained. “It’s not a static image like a CryptoPunk.” This can actually converse with you, interact with you, and interact with you.”

    Meltem Demirors, a project investor, tweeted a demo:

    When Khan first wrote about iNFTs after founding the company in 2019, “people thought I was a little bit insane,” he said. However, he believes that “AI-generated media and [the] blockchain [were] a match made in heaven.”

    In June, the startup experienced its first commercial success when Sotheby’s auctioned off Alethea’s (and the world’s first) iNFT for nearly $500,000, followed by a $16 million private token sale.

    Big-name investors include billionaire entrepreneur Mark Cuban, Metapurse, Multicoin Capital, Crypto.com, Alameda, Dapper Labs, and others.

    “The result is not only fun and entertaining, but it also lays the groundwork for a level of interactivity that will advance quickly thanks to Alethea’s technologies.” In a statement, Cuban said, “Alethea is bringing Avatars to life, and you can see it for yourself.”

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